January 3, 2012

Dear Certificants and Agencies:

Thank you for your patience as the Center for Financial Certifications ("CFC") continues its transition to new policies and procedures related to the establishment of a new regulator, the Consumer Financial Protection Bureau, and increased scrutiny from state regulators.

In addition, we are also investing in our infrastructure in order to better serve and support our Certificants and the organizations that employ them.

Certification Web Portal Now Available

We are pleased to announce that our new Certification Web Portal is now available at www.FinCert.org/portal.html. The Web Portal contains links, documents and forms that will help Applicants, Certificants and the organizations that employ them navigate our certification process.

Included on the Certification Web Portal page is a link to the new online certification management platform which allows Certificants to manage their entire certification process online, from application through examination scheduling, CEU reporting and renewal.

There is a two-part Certification Management Users Manual for Applicants and Certificants available at www.FinCert.org/portal.html which gives step by step instructions on using this new system.

All existing Certificants and those waiting to take exams will receive an email within the next 24 hours which contains their username and initial password. Once you receive that email, please create a new password as soon as possible. If you have not received that email by 9:00am on Thursday, January 5, 2012, please email CFC at Certifications@FinancialLit.org so that we may help you reset your password.

Compliance Managers and Registered Organizations

The Compliance Manager Portal, which will allow Registered Organizations to obtain reports on the status of Certificants and Applicants associated with their organization, will be available by the end of this week. A separate notice will be sent out once those features are available.

New Application

The certification web platform includes a new, more detailed Application. More information is available in the Application and Renewal Procedures which can be found at www.FinCert.org/portal.html.

New Examinations

Examinations must now be completed at approved IQT testing centers, locations for which can be found at www.FinCert.org/portal.html. More information about the examination procedure is available in the Application and Renewal Procedures and Certification Management User Manuals which can also be found at www.FinCert.org/portal.html.

Certificants will now know immediately upon completion of the exam whether they passed, and their Certification Letter will be available for download from the certification web platform when they return to the office. For those examinees that do not pass, they will receive feedback on which chapters they had difficulty with so they may focus their studies for the retake.

Fee Adjustments

As we continue to invest in our infrastructure and modify how we administer our certification programs, it has been necessary to modify our fee structure as well. These increases are directly related to increased costs associated with the new online platform and test center network. CFC is committing to maintaining the fees listed below through December 31, 2013 so that Certificants may accurately project their certification costs. More information about these fees is available in the Application and Renewal Procedures available at www.FinCert.org/portal.html, but below is a brief summary of some of the changes.

Certification Fees. Our new pricing structure has a single price point for each certification program. The certification fee is now $549 for the Certified Residential Housing Counselor program and $399 for all other certification programs.

Renewal Fees. The "Renewal by CEU" (previously known as "Renewal") fee is now $65 for all certification programs. The "Renewal by Examination" (previously known as "Re-Certification") fee will be $549 for the Certified Residential Housing Counselor program and $399 for all other certification programs.

Examination Fee. This is a new fee payable to the independent IQT Testing Centers that will now be administering CFCs examinations. This fee is $60 and applies to each examination, including retakes and Renewals by Examination.

Late Fee. This is a new fee related to a new feature: Late Renewal. Certificants will now be permitted to renew their certification, either by CEUs or Examination, up to 90 days after their certification has expired. This will allow Certificants who are unable to get their CEUs completed or schedule their renewal examination on time to avoid a gap in their certification status.

Application and Renewal Procedures Published

We are also pleased to announce that we have now published the new Application and Renewal Procedures, which provide more detailed guidance on the application and renewal process and requirements for certification. These new procedures can be found on the Certification Web Portal at www.FinCert.org/portal.html .

Revised CEU Procedures Published

The launch of the new certification management platform changed how CEUs should be reported for renewal, and the CEU Procedures have been updated accordingly. In addition, CFC has taken this opportunity to re-organize, expand and clarify the CEU Procedures to address some of the questions that regularly come up. These clarifications include, but are not limited to:

-         Section I(F) - Reporting - Clarifies that CEU reporting will now be done through the online platform.

-         Section  I(H) - Multiple Certifications - Clarifies CEU requirements for Certificants with multiple certifications.

-         Section III(B)(2) - CEU Completion Supporting Documentation - Clarifies the effect of the expiration date for approved CEUs.

-         Section III(E) - Employers - Formalizes the requirements placed upon employers of Certificants who wish to offer approved CEUs.

-         Section III(F) - Period of Approval for CEU Programs - Extends the period of approval for ongoing CEU programs to 3 years (retroactive to all programs approved since July 1, 2011)

Questions
After you have read the new procedures and materials, if you have additional questions you may direct them to:

For questions or information about Certification Policies or Procedures:
Center for Financial Certifications
260 Western Ave, Suite 1
South Portland, ME 04106
Certifications@FinancialLit.org

For questions or information about how to use the Certification Web Portal, a testing center or scheduling an examination:
ISO Quality Testing
CBT@isoqualitytesting.com
(866) 773-1114 (USA)
(727) 733-1110 (international callers).

We believe these changes enhance the value of our certifications and represent positive improvements to the certification and renewal process that will benefit CFC, our Certificants and their employers.

Thank you for you continued support. We truly appreciate the opportunity to meet your certification requirements.